Lime Fx is one of the only few forex brokers that offers ZAR accounts to SA traders. I rank trading costs among the most defining aspects when evaluating a broker, as they directly impact profitability. Lime Fx offers traders commission-free Forex trading with higher spreads, a highly competitive commission-based alternative.

Lime Fx Account types

Lime Fx has established itself among the most competitive Forex brokers with a quality mix of products and services. It enables all trading strategies with a cutting-edge trading environment and competitive fees. Lime Fx offers upgraded MT4/MT5 trading platforms and its proprietary mobile trading app. A nine-member team provides additional market commentary and analytics.

This is comprised of numerous daily articles, and occasional webinars that are created by a team of analysts located around the globe. Or, you can choose to limefx courses scam withdraw to a crypto account, or e-wallet such as Skrill or BitPay for a much quicker withdrawal. 23 indices and 34 ETFs covering US, European and Japanese markets are available.

For urgent technical support or inquiries, calling the company’s phone line would be a much quicker option, but be aware that international calling may be costly. When I did get a hold of a customer support agent, I had to suffer through slow responses and less-than-perfect comprehension of my questions. When testing out the live chat feature, I found it to be error-prone, and not particularly useful for getting helpful information quickly or efficiently.

Forex Risk Disclaimer

Real-time market news from FXStreet completes the research tools. I value the Lime Fx investment made using AI and big data to help clients navigate financial markets, especially with more than 1,200 assets available to trade. The Lime Fx Trader’s Board has data on how Lime Fx clients trade and a lucrative partnership program is also available. Lime Fx offers traders MT4/MT5 and upgrades them with 12 trading tools by FX Blue Labs plus Autochartist.

1. Blain Reinkensmeyer has 20 years of trading experience with over 2,500 trades placed during that time.
2. All accounts come with a personal account manager, which is just a fancy word for a customer service agent.
3. Besides, Lime Fx offers its trading service along with the applicable licenses in each region it operates that regulate the Forex industry, therefore delivers service trustworthily.
4. All BrokerNotes content is researched, fact-checked, and edited by the research team.
5. The absence of cryptocurrency CFDs, for now, in an otherwise well-balanced asset selection is the only criticism in an otherwise excellent trading environment.

He holds a Bachelor’s Degree in English Literature from San Francisco State University, and conducts research on forex and the financial services industry while assisting in the production of content. One of the limefx scammers most ignored trading costs is swap rates on leveraged overnight positions. Depending on the trading strategy, it may become the most significant fee per trade. I always recommend that traders check them before evaluating the total trading costs.

Brokers By Licenses

After you have submitted your documents, Lime Fx will normally verify your account in business hours and revert to you on your email with account verified message. In case you don’t receive confirmation within this time, you should contact their support for an update. They are regulated in South Africa, 3 other Tier-1 & Tier-2 regulations, so the security of your funds is backed by these top-tier regulators. Being regulated by FSCA & with multiple globally reputed financial institutions, we believe that it is relatively safe to trade with Lime Fx.

You can trade Palladium contracts on Spot markets and avariety of commodities like Coffee, Cocoa, Copper, Cotton, Sugar, and SoybeanOil contracts on Futures markets on Lime Fx. Lime Fx provides the universally recognized MetaTrader 4 platform as their trading platform. The platform can be downloaded on thedesktop or used online through the MT4 web-trader platform. As well, MT4 mobileapplications are available for both Apple and Android smart devices. All content on ForexBrokers.com is handwritten by a writer, fact-checked by a member of our research team, and edited and published by an editor.

This account type is the same as the Premium or Zero SpreadAccount but follows Islamic law and therefore is a swap-free account. Yes, based on your detected country of BG, you can open an account with this broker. Lime Fx caters to most traders from its headquarters in Saint Vincent and the Grenadines, but it has offices in each country where it maintains a regulatory license. The only application form typically takes less than 20 seconds to complete, asking for country of residence, e-mail, and the desired password, which grants access to the myHF back office.

If you have an insight on interest rates, or where the bond markets will move, you can trade contracts based on the Bund, Gilt, and U.S. Lime Fx has also taken out civil liability insurance up to €۵,۰۰۰,۰۰۰, to protect client funds against broker error, negligence, fraud, and other risks. The safety of a forex broker has a lot to do with what government regulator is issuing the company a trading licence. As an aside, while we haven’t physically tested the spreads ourselves with HF Markets, we have tested RAW spreads with other brokers like Pepperstone, IC Markets, and Fusion Markets.

Broker Types

The Terminal moduleof the MT4 platform allows you to manage and monitor all your tradingactivities, pending orders, trading account history, cash operations, overallbalance, equity, and your margin. Of the accounts Lime Fx offer, we think their no-commission accounts are a better choice, that said, we believe there are better options among lowest spread forex brokers to consider. It does appear you get good value provided you use the right currency pair. Yes, Lime Fx have NAS100 indices as a CFD instrument on their platform for traders in South Africa. The typical spread for trading NASDAQ CFD on Lime Fx is 2.03 with all account types.

There’s also an economic release calendar, which can be useful for knowing when to expect market volatility and changes in spread sizes. There are hours of webinars and recorded videos, as well as daily market analysis to keep you informed about current market movements. The Lime Fx website states that the firm supports 27 different languages, which seems quite impressive, so if English isn’t your chosen language, Lime Fx may be a good option for you. If you wish to automate your trading or build your custom indicators, MT4 allows you to build Expert Advisors (EAs) to do these. Being able to code is an advantage for building these EAs but if not, we found you can find many free or paid ones in the MT4 marketplace. On the plus side, Lime Fx is regulated by Top-Tier regulators FSCA in South Africa, FCA in UK, CySEC in Cyprus, DFSA, so it is safe to trade with them.

You can trade both Spot marketIndices (plural for Index) as well as the Futures market. Examples of Indicesinclude Australia 200, France 40, US Wall Street 30, etc. You may refer herefor the full details on various Indices on offer on Lime Fx. Index trading involves speculation on the movement of asection of a market, instead of individual stocks. Depending on the marketmovement, there will be potential for profits.

Lime Fx Broker Review Withdrawal step by step

No slippage experienced so far which is always a good sign, I’ve made a couple of withdrawal so far with no hick ups. Deposit & Withdrawals of your funds at Lime Fx is easy with multiple options available for traders in SA. Check the exact specifications like the Swap fees, trading hours, max.

All websites and web-based platforms are tested using the latest version of the Google Chrome browser. Our Desktop PCs run Windows 11, and we use MacBook Pro laptops running the latest version of macOS to test trading on the go. We test mobile apps and products using iPhones running iOS 17 and Samsung devices running Android OS 14. Steven Hatzakis, an industry veteran with decades of experience in the forex market, leads the BrokerNotes research team.